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22nd Street Apartments 1333 22nd St 5 Unit Apartment Building $458,700 CAD ($91,740 CAD/Unit) 7.76% Cap Rate Des Moines, IA 50311
Investment Highlights
- Completely remodeled in 2022 - new kitchens, bathrooms, flooring, appliances, and roof
- Walkable to several dining & entertainment options
- Blocks from Drake University
- Approximately 5 minutes from Downtown Des Moines
Executive Summary
CBRE is pleased to offer an opportunity to acquire 22nd Street Apartments in Des Moines. The property offers (4) 1BR/1BA units and (1) studio unit. The asset was completely renovated in 2022 with new kitchens, bathrooms, flooring, appliances, and roof.
Please contact us for more information.
Please contact us for more information.
Property Facts
| Price | $458,700 CAD | Building Class | C |
| Price Per Unit | $91,740 CAD | Lot Size | 0.22 AC |
| Sale Type | Investment | Building Size | 2,574 SF |
| Cap Rate | 7.76% | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1902/2022 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R-3 | ||
| Price | $458,700 CAD |
| Price Per Unit | $91,740 CAD |
| Sale Type | Investment |
| Cap Rate | 7.76% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 2,574 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1902/2022 |
| Opportunity Zone |
Yes |
| Zoning | R-3 |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer Hookup
- Kitchen
- Refrigerator
- Range
- Yard
- Basement
- Dining Room
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Gas Range
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 889 |
| 1+1 | 4 | - | 368 - 520 |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 080-06764000000 | Improvements Assessment | $210,307 CAD |
| Land Assessment | $31,553 CAD | Total Assessment | $241,860 CAD |
Property Taxes
Parcel Number
080-06764000000
Land Assessment
$31,553 CAD
Improvements Assessment
$210,307 CAD
Total Assessment
$241,860 CAD
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22nd Street Apartments | 1333 22nd St
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